LP Voting and Investor Consent for AIFs
2 days ago
- LP consent requires more than collecting votes; it involves managing investor selection, voting rules, weighted approvals, reminders, and audit-ready records.
- SEBI's June 2026 consultation paper proposes standard approaches to consent methodologies, non-response treatment, disclosures, approval thresholds, and recordkeeping.
- Three consent methodologies are discussed: Deemed Consent (non-response counts as approval), Present and Voting (only participants count), and Express Voting (only explicit approvals count), leading to different outcomes.
- Taghash platform provides a structured workflow for LP consent, including proposal creation, LP selection, locked voting rules, verified OTP-based submissions, reminders, automated weighted calculations, and permanent audit records.
- Key settings before dispatch include confirming the matter, rationale, eligible LP population, voting basis, treatment of non-response and abstention, and approval threshold, all checked against SEBI requirements and fund documents.